Starting it off.

It's a habit I have to aquire.

Originally posted by jimkane

Well, this is a classic mistake I see many traders make. At least, to my way of thinking it's a mistake. The premise is say trade short on a bounce to 51-54. The first questions is, what if the trade premise doesn't play out? What if it has bounced all it is going to? What's 'Plan B'? The answer, for me, can't be 'I'll stand aside'. The opportunity is potentially huge, the approach can't be one-pronged. Just my two cents.

Originally posted by MarcinO

I saw it but really waited for 51-54. It lined up great with the lines I drew yesterday...

Bearish ABCD draws the reaction and 'fulfills it's objective' (this has nothing to do with 'profit targets', a phrase that isn't in my 'Trading Plan' at all).

Okay, pop time?

I'd love to see a hard roll here, but they need to bounce it. And perhaps it's done anyway, so I can't imagine anything but a pop.

And while I typed that, it popped.

Been at this a long, long time. About 49,000 hours...

Okay, watch how it acts here. See that 1-min immediate downsloping TL? You know the game. Clue time. Yawn. Same old, same old.

Yawn. Same games, just a different day.

SSDD

Originally posted by jimkane

Yawn. Same games, just a different day.

Ex-aaaaaaaaaaaaaaaaaaaaaaaaaaaaaact-ly.

The generals are leading, and the troops aren't following. This, usually, is a very bad thing.

http://www.zerohedge.com/news/2014-10-03/market-breadth-has-collapsed-around-world